Giddings Lands Little Caesers Pizza Restaurant
19 Mar 2016
Giddings, TX (March 4, 2016) – The Giddings Economic Development Corporation (GEDC) is pleased to announce that Giddings has been selected as the site for a new Little Caesers Pizza. The restaurant will be centrally located on the north side of Highway 290 at 1799 East Austin. Marc Ashley, owner and CEO of GTX Doe Boyz, a Texas Corporation, plans to have the restaurant open and operating by early June 2016.
According to Ashley, the company has been searching for a site since last summer, with cities such as La Grange, Lockhart, Navasota and Rockdale in the running; however, it was the community’s outreach and recruitment efforts that secured the deal. “We were pleasantly surprised and pleased with the amount of support and communication provided to us throughout our search. We felt like Giddings really wanted us to be a part of the community and we became convinced we will be successful here,” he said.
The GEDC assisted by facilitating meetings between the company and local utilities, and by providing demographic and other data. Once the need for gap financing was identified, the GEDC board, with approval of City Council, agreed to provide the company with a $25,000 cash incentive to assist with repairs and renovation. The City of Giddings also committed to providing a three year tax rebate equal to 30% of projected sales revenue. These funds will provide a buffer to strengthen the company’s cash flow during its early operating stage, a period when restaurants are most likely to close due to undercapitalization.
“The GEDC was interested in this project for several reasons. The Bumpers building stands out due to its shape, color and location. It’s not healthy for a community’s image to have such a memorable property remain on the market for so long. The company also presented a solid business plan, which was shored up by our belief in the viability of the Little Caesers brand,” says Tonya Britton, GEDC Executive Director.
The project is expected to comprise a substantial capital investment. According to the Lee County Appraisal District, the land and structure currently hold a value of $172,290. Improvements will include upgrades to the roof and air-conditioning, new paint, squaring off of the front of the building, relocation of interior bathrooms and drive-through, and other changes required by the Little Caesers franchise to bring the building up to standards. Gaeke Construction of Giddings will serve as lead contractor on the project.
Since first opening in 1959, the Little Caesers franchise has grown into one of the largest carryout-only pizza chains in the world. According to Nation's Restaurant News (NRN), the company is the fastest-growing pizza chain and the 19th-largest food service chain in the United States. Within the next two years, Ashley plans to hire 10-15 employees, with 3-5 of those working full-time.
For additional information about this project or to seek assistance from the Giddings Economic Development Corporation, contact the office at 924 East Austin Street, email firstname.lastname@example.org, or 979.542.2067.
Giddings Economic Development Corporation